The clock is ticking for commercial property owners to obtain energy-efficiency ratings ahead of a mandatory disclosure scheme next year. Industry experts are saying owners may find it difficult to sell or lease assets unless they have met strict new criteria under the Federal Government’s Mandatory Disclosure of Office Building Energy Initiative, expected to be in place from July 1 next year. From then, any commercial property owner wanting to sell their premises or lease more than 2000sq m of office space will be required by law to disclose the building’s energy efficiency rating before any agreement can be made. Ratings will be determined by government-accredited National Australian Built Environment Rating System, or NABERS, assessors. Only five Adelaide office buildings have published NABERS ratings, including the ANZ Building on Waymouth St, but not many realise the risk of not complying, says Big Switch Projects managing director Gavin Gilchrist.

‘‘Thousands of local businesses are putting themselves at risk of losing rental income and the ability to sell their premises – or risk breaking the law,’’ Mr Gilchrist said.

‘‘Regrettably, Adelaide commercial building owners don’t realise this is coming,’’ he adds. The new mandates will enable tenants shopping for office space to get accurate energy ratings information about a building before they sign a contract, just like with a new fridge or car. Click here to read the full article.

 Click here to see what Big Switch Projects has to say about Mandatory disclosure.